Consulting / Auditing
Consulting, auditing, expertise
Auditing/Consulting is a huge market, estimated at €27 billion in turnover for European companies of all sizes.
Audit and accounting firms showed more resilience to the crisis than most of the other sectors of the economy. Admittedly, the profession remains relatively protected. Firstly, the services provided are often mandatory and recurrent; secondly, client loyalty rate, in the range of 90%, is extremely high. Finally, these firms still operate in a virtually monopolistic situation.
The heavyweights of the profession (E&Y, Deloitte, PwC, KPMG, Mazars, Accenture, etc.) dominate the international scene, with a combined turnover of some $100 billion. In recent years, however, their operating performances have dropped due to pricing pressure in statutory auditing, the inflow of compliance missions drying up and increased competition from medium-sized generalist firms. Since the wave of scandals over the past twenty years and according to the latest European regulatory decisions, companies are no longer allowed to house both auditing activities – i.e. financial and accounting control – and consulting activities, whether in strategy, management or IT services, within the same entity. Today, these large structures are mostly focusing on auditing.
Medium-sized companies (such as Grant Thorton, Secafi DSE, Soregor, Strego, etc.) must succeed in combining a global offer with customer proximity. Such proximity is at the core of their competitive advantage.
Smaller structures with under €15 million in revenue, particularly those whose offer remains primarily focused on traditional accounting services, face major challenges: the rapidly evolving expectations of companies, which must face an increasingly complex environment, and significant regulatory changes with announced plans of terminating the accounting monopoly. These firms need to switch their approach from service provider to service company.
The consulting sector is growing on many levels, and its services are increasingly being provided internationally. Strategic consulting (growth model building, restructuring, market analysis, outsourcing) as well as management consulting (HR) account for 15% of the total market, far behind IT consulting (25%) and business performance consulting (21%). Consulting in finance and financial risk management (annual budgeting, regulatory compliance) make up for 14% of the industry, while project management and marketing and sales consulting represent 4% each.
The sector is rife with job opportunities, especially for young graduates from high-ranking schools and universities. They account for 80% of annual new hires from major global players in France. Careers in this branch are inherently international and favor the development of multidisciplinary skills acquired with experience and thanks to the mobility programs implemented at most firms.
Requesting services from a recruitment firm specialized in the consulting and auditing sector, with solid knowledge in the relevant fields (management, finance, accounting), will help your firm stand out from its competition.
Primary functions in finance/auditing/consulting:
- In-House Lawyer
- Tax Expert
- Financial Controller
- Public Accountant
- Credit Manager
- Transaction Analyst
- Merger & Acquisition Analyst
- IT Expert
- Environmental Standards Expert
- Marketing Consultant
- HR Change Management Consultant
- Strategy/Performance Consultant